The MBA (Masters of Business Administration) program is one of the most coveted postgraduate programs worldwide. More than just an investment in education, an MBA can be expected to land you a good position in a reputable company with a respectable wage package after you graduate. If you enroll full-time, the program lasts two years; however, several colleges and business schools also offer executive MBA programs that last just one year for working professionals. However, before taking an MBA course, it is important to consider not just your area of interest but also the business school and nation from which you are taking the course. This is the reason why many applicants are undecided between taking an MBA program in India or abroad.
More than 2 lakh candidates sign up each year to take The Common Admission Test, also known as CAT, in order to be considered for admission to MBA programs. IIMs and 1200 other B-schools are among the tier-1 business schools in India that take the CAT test to narrow down their applicant pools. SNAP, XAT, NMAT by GMAC, and IIFT are a few further admission tests that MBA students study for.
Candidates who want to pursue an MBA abroad must take exams like the GMAT test or the GRE test. Around 30,000 Indian students take these exams each year, and according to the Graduate Management Admission Council (GMAC), at least 80% of them pass and go on to apply for MBA programs in the nations of their choice.
Other than India, one of the top choices for Indian students pursuing an MBA is USA. Australia, Canada, UK, and Singapore are some of the other well-known locations where many Indian students may be found applying for MBA programs. The average length of an MBA program in the USA is two years, compared to around one year in the UK and Singapore.
Well, whether you choose to pursue an MBA in India or abroad, both options are understandable if we go into detail about their own benefits. Let’s clarify the difference between an MBA from India and MBA Abroad.
MBA is one of the most sought-after courses in India, with many students enrolling immediately after completing their Bachelor’s degree. Many working professionals pursue an MBA to improve their chances of advancement in their careers.
Whereas, many Indian candidates want to pursue their MBA in another country. However, they should be aware that some of the world’s best universities and business schools require candidates to have at least four years of work experience before enrolling in an MBA program. Have you decided whether it is better to pursue an MBA in India or abroad? If you are still undecided, read this blog to learn about the differences between MBA in India and MBA abroad, as well as which MBA from India or abroad is better.
Your budget for anything can be a significant deciding factor. And if you are planning to pursue an MBA course, you should find out how much it will cost. The cost of an MBA is entirely dependent on the institution you choose. It will cost you between INR 8 lakh and INR 23 lakh if you do it through IIMs. The one-year MBA PGPX program fee at IIM Ahmedabad is INR 28 lakh. However, if you pursue your MBA at a tier-2 business school in India, program fees will begin at INR 8 lakh.
On the other hand, one of the reasons many students pursue MBA from India is the high cost of an MBA program in other countries. Tuition for a two-year MBA in the USA ranges from $90,000 (66, 84,871) to $140,000. (INR 29, 75,544). The one-year program will cost between $55,000 (INR 40, 85,323) and $80,000. (INR 59, 42,288).
There are numerous MBA entrance exams in India, but the most popular is the Common Admission Test (CAT). The CAT is a more difficult test than the others because it assesses candidates’ verbal, logical, and quantitative abilities. The country’s most prestigious business schools, such as the IIMs, accept CAT scores. Candidates who pass the cut-off score are invited to participate in the Group Discussions and Personal Interviews. Other MBA entrance exams in India include SNAP, XAT, NMAT by GMAC, and IIFT, all of which operate in a similar manner.
In contrast, to pursue an MBA at a foreign university, candidates must clear the entrance exams such as the GMAT and GRE. These tests are offered on a rolling basis, allowing candidates to select an exam date that works best for them.
The course structure may differ from one business school to the next, but the fundamentals are the same. However, the MBA course structure in India is more theoretical. The MBA program lasts two years and is divided into four semesters. Business Communication, Financial Accounting, Management Accounting, Marketing Management, Marketing Research, Economic Environment of Business, Financial Management, Human Resource Management, Management of Information System, Information Technology Management, Managerial Economics, Management Science, Organizational Behavior, Organization Effectiveness & Change, Quantitative Methods, Production & Operational Management are the main subjects that must be covered in these two years. Finance, Marketing, OB & HRM, Production & Operations Management, Entrepreneurship, Information Technology Management, and Service Management are among the specialisations available to students.
However, knowing the course structure is very important when comparing MBA programs in India and abroad. This assists candidate in deciding whether or not to pursue an MBA from abroad. The approach is more pragmatic in terms of MBA abroad course structure. Candidates are given case studies to study from various business organizations. This helps them put everything they learned in theory into practice even more. Accounting and Management, Business, Government & the International Economy, Finance, Entrepreneurial Management, General Management, Negotiation, Organizations & Markets, Marketing, Strategy, Technology & Operations Management, Leadership & Organizational Behavior, Technology & Operations Management, and other subjects are common in MBA programs abroad. Marketing, finance, human resources in hospitality, and supply chain management are some of the specializations available for the MBA.
Is it better to pursue an MBA in India or abroad? To answer this question, consider the top MBA colleges in India versus abroad and how they rank in MBA rankings.
Examine the top ten universities in the most recent QS Global MBA rankings to determine whether it is better to study MBA in India or abroad:
|Stanford Graduate School of Business, USA||1|
|Harvard Business School, USA||2|
|Wharton School of Business, USA||2|
|HEC Paris, France||4|
|Sloan School of Management, USA||5|
|London Business School, UK||6|
|IE Business School, Spain||7|
|Columbia Business School, USA||9|
|IESE Business School, Spain||10|
Here is a table with top 5 universities for MBA from India or abroad:
|USA||Stanford Graduate School of Business
Harvard Business School
Penn Wharton School of Business
MIT Sloan School of Management
Columbia Business School
|UK||London Business School
Said Business School
Judge Business School
Imperial College Business School
Warwick Business School
|Canada||Rotman School of Management
Smith Business School
Ivey Business School
Desautels Faculty of Management
Schulich School of Business
|Australia||Melbourne Business School
Australian Graduate School of Management
Monash Business School
Macquarie Business School
UQ Business School
Indian School of Business
Indian Institute of Management Indore
|Germany||Mannheim Business School
Frankfurt School of Finance
HHL Leipzig Graduate School of Management
|New Zealand||Otago Business School
University of Waikato
University of Auckland
Auckland University of Technology
After earning your MBA from an Indian B-school, you will be placed through campus selection. Students may even have the opportunity to be interviewed by top MNCs and banks. You can get a good estimate of the recruitment scenario when you graduate by looking at the usual companies that visit your campus for recruitment.
While on the contrary, not all MBA programs abroad provide students with job placements. None of the colleges can promise a job placement, even though some may help the students in their employment search. Students themselves must look for employment. The students may even have to start with inferior positions for the occupations that are appropriate to their expertise. Longer-term, though, they will get more knowledge from those roles and gradually improve their profiles.
The work experience requirements for admission to MBA programs in India and abroad are quite different. You will have several options for applying to Indian B-schools if you do not have any prior work experience, based primarily on your academic records and entrance test scores. Work experience will undoubtedly add value to your application if you are applying to IIMs, ISB Hyderabad, XLRI, and other institutions with highly competitive class profiles.
When applying to top B-schools abroad, it is best to have at least 2-3 years of professional work experience. There are MBA without work experience options available, but it is sometimes necessary to assess your level of preparedness.
To conclude, choosing where to pursue your MBA is an important decision that will affect your future. Therefore, before registering for any exams, research the universities abroad, compare them with Indian B-schools, and then consider your selections. It is clear that an MBA in India differs greatly from an MBA overseas. This blog’s main goal is to present the data that is readily available for both MBA programs.
The students are the ultimate decision makers, the present article tries to give them insights about MBA programs in both India and abroad. If the students have the financial capacity and relevant requirements, then they may choose to pursue their MBA abroad. If the students are not meeting these requisites, then it is always a wise decision to join the top-B schools of India for their MBA course.
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